Chevron Corporation (CVX) Shares Sold by Karpas Strategies LLC
Karpas Strategies LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,778 shares of the oil and gas company’s stock after selling 986 shares during the period. Karpas Strategies LLC’s holdings in Chevron Corporation were worth $2,063,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Wilshire Securities Management Inc. bought a new stake in Chevron Corporation during the fourth quarter worth approximately $218,000. Arrowstreet Capital Limited Partnership boosted its stake in Chevron Corporation by 59.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 322,265 shares of the oil and gas company’s stock worth $37,931,000 after buying an additional 119,721 shares in the last quarter. Bridgeworth LLC bought a new stake in Chevron Corporation during the fourth quarter worth approximately $1,150,000. CAMG Solamere Management LLC bought a new stake in Chevron Corporation during the fourth quarter worth approximately $2,186,000. Finally, Cypress Wealth Advisors LLC boosted its stake in Chevron Corporation by 2.8% in the fourth quarter. Cypress Wealth Advisors LLC now owns 22,669 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 608 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
Chevron Corporation (NYSE:CVX) traded down 0.28% during trading on Wednesday, hitting $107.19. The stock had a trading volume of 1,535,345 shares. The company has a 50 day moving average of $106.24 and a 200-day moving average of $107.52. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. The company has a market cap of $203.13 billion, a P/E ratio of 34.76 and a beta of 1.23. Chevron Corporation also saw unusually large options trading on Tuesday. Stock investors acquired 35,638 call options on the stock. This is an increase of 544% compared to the average volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same period in the prior year, the firm posted ($0.78) EPS. The business’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post $3.80 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
A number of analysts recently commented on the company. Simmons dropped their price objective on Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Citigroup Inc. dropped their price objective on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, July 21st. BMO Capital Markets set a $120.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Exane BNP Paribas cut Chevron Corporation from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $105.00 to $100.00 in a research report on Friday, May 26th. Finally, BidaskClub upgraded Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $116.80.
In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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